What is another name for an income statement?

An income statement is also referred to as a statement of earnings. This document provides a summary of a company's revenues and expenses over a specific period, ultimately showing the net profit or loss. The term "statement of earnings" emphasizes the focus on the company's profitability during that period, reflecting how much money the company has made (earned) after accounting for all expenses, costs, taxes, and other deductions.

The other options represent different financial statements that serve distinct purposes. The balance sheet or statement of financial position provides a snapshot of a company's financial condition at a specific point in time, detailing its assets, liabilities, and equity. The cash flow statement tracks the flow of cash in and out of the business, highlighting the firm’s liquidity and cash management over a given period. Each statement complements the income statement but serves other analytical functions in financial reporting.